Morgan Stanley Raises Economic Growth Forecast, Citing Biden Infrastructure ‘Boom’
Morgan Stanley raised its economic growth forecast up this week, citing a "boom in large-scale infrastructure" driven by President Biden’s Infrastructure bill, according to reports.
Morgan Stanley raised its economic growth forecast up this week, citing a "boom in large-scale infrastructure" driven by President Biden’s Infrastructure bill, according to reports. The bipartisan Infrastructure Investment and Jobs Act was signed in late 2021 and the Inflation Reduction Act became law last August.
"The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view," Morgan Stanley’s Chief U.S. Economist Ellen Zentner said in a note Thursday, MarketWatch reported. She added that "manufacturing construction has shown broad strength."
Still, Biden's poll numbers remain underwater amid a presidency plagued by high inflation following the coronavirus pandemic.
Private Sector Added 324,000 Jobs in July, Well Above Expectations, ADP Says
Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported on Wednesday, August 2.
G20 environment meeting ends without agreement on climate crisis
Environment ministers from G20 nations have failed to agree on ways to curb emissions and other crucial measures to address the global climate crisis ahead of the UN climate change conference at the end of the year.
World Gold Council's Mid-Year Report: Gold Maintains Resiliency in H1
On July 6, 2023, the World Gold Council (WGC) released its 2023 Mid-Year Outlook, revealing that a “strong first half for gold is likely to give way to a more neutral H2.”
